Hangzhou Kang Ming Information Technology Co., Ltd (HKG: 9955), operating under the brand name “ClouDr,” has announced a licensing agreement with Clinect Pty Ltd as the licensor and Bluefly Consulting Limited as the seller. ClouDr has secured exclusive sub-licensing rights for the development, manufacturing, promotion, publicity, distribution, and marketing of a specific product.
The product in question is an infusion solution of iloprost, a prostacyclin analog. Iloprost has seen its injection and inhaler dosage forms approved for marketing in 2001 and 2003, respectively. The injectable version of the drug is commercially available in the United States, United Kingdom, Czech Republic, Israel, and New Zealand. The product developed by Clinect is noted to be the only generic version of the originator globally, and there is no injection product with the same content available in China.
According to the terms of the deal, ClouDr will make an upfront payment of USD 25 million to Bluefly Consulting Limited, along with a USD 200,000 annual maintenance fee for the upkeep of the license until a re-negotiation takes place.- Flcube.com
